ACWA Power, a Saudi Arabia-based energy company, is set to invest up to $50 billion in renewable energy projects in China by 2030. The focus of this investment will be on acquiring clean energy assets of up to 20 GW and producing one million tons of green hydrogen. The company plans to collaborate with Chinese state-owned enterprises to achieve these goals. ACWA Power's projects include adding 1.3 GW of renewable energy capacity by 2024, with plans to reach between 4 GW and 6 GW by 2025 and 5 GW annually from 2026. The company has established strategic alliances with firms in China for various projects, showcasing its commitment to global partnerships. Additionally, ACWA Power is engaged in research and development activities in Shanghai, with a center focusing on key areas like photovoltaics, wind power, energy storage, green hydrogen, and seawater desalination. Furthermore, ACWA Power's collaboration extends to projects outside China, including a $972 million contract signed in August to build a 2 GW photovoltaic plant in Saudi Arabia in partnership with other entities. Recent stakes sold in subsidiaries and participation in renewable energy tenders, such as the wind and solar projects floated by Saudi Power Procurement Company, demonstrate ACWA Power's proactive approach in the energy sector. The company's commitment to sustainability and innovation is evident in its development of solar projects and financing agreements with investors. Through these initiatives, ACWA Power is contributing to the growth of renewable energy infrastructure and advancing green technologies on a global scale.